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softbank is one of japan's biggest cellphone makers. sprint closed at $5.76 on thursday. ending benefits for retirees is the latest plan by kodak to emerge from bankruptcy. health, life, survival and dental insurance will all stop by the end of the year for 25,000 employees with a judge's approval. kodak would wipe a reported $1.2 billion in obligations off its books. in exchange, the company would give the retiree committee an estimated $7.5 million or possibly more to cover some costs. more companies are taking the plunge into public territory. ipo activity has risen 5.4% this year. this week, real estate giant realogy, owner of coldwell and century 21, debuted on the markets. it's the largest real estate ipo ever, and yesterday shares began trading on the higher end of the ipo price range. meanwhile, online photo site shutterstock priced in at 17 dollars, exceeding its 13- to 15-dollar range. intercept pharmaceuticals also priced in yesterday, at 15 dollars a share. royal gold, a precious metals company, and tech firm workday are expected to launch their ipos today. th
softbank is one of japan's biggest cellphone makers. sprint closed at $5.76 on thursday. ending benefits for retirees is the latest plan by kodak to emerge from bankruptcy. health, life, survival and dental insurance will all stop by the end of the year for 25,000 employees with a judge's approval. kodak would wipe a reported $1.2 billion in obligations off its books. in exchange, the company would give the retiree committee an estimated $7.5 million or possibly more to cover some costs. more...
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Oct 12, 2012
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softbank is considering acquiring sprint nextel. sprint nextel has more than 56 million subscribers. negotiations are to acquire more than two-thirds of the company's shares. it's expected to reach $12.8 billion. both firms are providers for apple's iphone and they both use a high speed wireless communication protocol called long term evolution. the stronger yen is believed to be a factor in soft bank's decision in acquiring sprint nextel. they are hoping to vastly expand their network and customer base in the united states where the market is showing considerable growth. if successful the deal would lead to the creation of a te telecommunications with more than 19 million subscribers. >>> u.s. markets ended lower dragged down by lackluster earning reports. the dow jones extended its losing streak to four days. this is the lowest closing since september 11. we go to ramin who is at the tokyo stock exchange. what can you tell us? >> good morning. following the slight losses that we saw in new york we got to keep track of the tex sect
softbank is considering acquiring sprint nextel. sprint nextel has more than 56 million subscribers. negotiations are to acquire more than two-thirds of the company's shares. it's expected to reach $12.8 billion. both firms are providers for apple's iphone and they both use a high speed wireless communication protocol called long term evolution. the stronger yen is believed to be a factor in soft bank's decision in acquiring sprint nextel. they are hoping to vastly expand their network and...
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Oct 11, 2012
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will how will softbank help its competitive dynamic? >> well, i think first and foremost it would help from a competitive standpoint but i will stress this, that in the past sprint as you mentioned has had some difficulties with regard to some of the integrations they've gone through. recently though dan and the team have done a very good job with network vision and also starting to shut down the network, planning to get out of the network by mid 2013. so before any of this came to be, we had said that we thought sprint would be worth about 6.5 dollars that is before softbank would come in and potentially take 70% of the company as an investment for nearly $13 --13 billion as you mentioned. and sprint right now has over 21 billion in debt, they have 14.5 billion of net debt. so that type of investment would free up their balance sheet to do things such as increase their holdings. and while sprint said they have ample spectrum since the beginning of 2014 as i'm sure you and everybody else understands, spectrum is a scarce commodity at th
will how will softbank help its competitive dynamic? >> well, i think first and foremost it would help from a competitive standpoint but i will stress this, that in the past sprint as you mentioned has had some difficulties with regard to some of the integrations they've gone through. recently though dan and the team have done a very good job with network vision and also starting to shut down the network, planning to get out of the network by mid 2013. so before any of this came to be, we...
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softbank's total investment is expected to reach about $12.8 billion. both firms are providers for apple's iphones and both use a high-speed wireless communications protocol called lte or long-term evolution. the stronger yen is believed to be a factor in softbank's consideration in aspiring to buy sprint nextel. softbank executive are amay or may notally hoping to vastly expand their network in the u.s. where the market is showing considerable growth. if successful, the deal would lead to the creation of a telecommunications company with more than 90 million subscribers. >>> europe's financial leaders keep hearing others talk act their problems with debt. they're eager to turn the attention away from themselves. members of the international monetary fund and the world bank are discussing global threats at their annual meetings being held in tokyo. and now finance stiministers fr the group of seven nations are getting into the mix. more from reiko sakurai. >> reporter: the europeans stressed how much effort they're putting into solving their problems. t
softbank's total investment is expected to reach about $12.8 billion. both firms are providers for apple's iphones and both use a high-speed wireless communications protocol called lte or long-term evolution. the stronger yen is believed to be a factor in softbank's consideration in aspiring to buy sprint nextel. softbank executive are amay or may notally hoping to vastly expand their network in the u.s. where the market is showing considerable growth. if successful, the deal would lead to the...
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this is on a nikkei report saying that softbank is going to acquire it. look at that spike, up 1.6%. this is adding on to the story as we were following it this morning. sprint had a spike on its news. nikkei saying softbank to acquire pcs. >>> up next, more on our huge exclusive. listen to what erskine bowles had to say about the anger politicians are about to see up close. >> people are never going to understand how critical this particular time in history is. we have 7.7 trillion -- trillion -- dollars worth of economic events that are going to hit america in the gut in december. and in washington, they're doing nothing about it! nothing about it! we should be asking these guys running for president and every guy running for congress -- what are you going to do? >> it is a really good question. right? what are they going to do? we will find out -- next. >>> let's continue the discussion now around our exclusive interview with lloyd blankfein, erskine bowles and alan simpson. even though there is a lot of concern about the fiscal situation, the goldman
this is on a nikkei report saying that softbank is going to acquire it. look at that spike, up 1.6%. this is adding on to the story as we were following it this morning. sprint had a spike on its news. nikkei saying softbank to acquire pcs. >>> up next, more on our huge exclusive. listen to what erskine bowles had to say about the anger politicians are about to see up close. >> people are never going to understand how critical this particular time in history is. we have 7.7...
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softbank is not in talks to acquire clearwire. however, sprint, which already owns about 48%, 49% of the company, is in talks to do the same. to acquire clearwire as part of this deal. a very complex deal as you can see. softbank does have a need for sprint to have control of clearwire's board. it does appear that sprint is going about that by having discussions aimed at acquiring clearwire, which while it does own a lot of, does not own the majority of. some of which is still held by cable companies and the like including, of course, as well, some public shareholders. did want to clarify that when it comes to clearwire. finally, of course, we've seen shares of sprint pc -- excuse me. metro pcs down sharply today. i can tell you sprint did not consider a bid to come over the top in a deal that has been done between t-mobile and metro pcs as had been reported by some other outlets last week. as i have been reporting, t-mobile was an important component of these talks when they first began this summer between both t-mobile and sprin
softbank is not in talks to acquire clearwire. however, sprint, which already owns about 48%, 49% of the company, is in talks to do the same. to acquire clearwire as part of this deal. a very complex deal as you can see. softbank does have a need for sprint to have control of clearwire's board. it does appear that sprint is going about that by having discussions aimed at acquiring clearwire, which while it does own a lot of, does not own the majority of. some of which is still held by cable...
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. >>> we begin with breaking news on sprint and softbank. david faber's been working this all morning. >> yeah. it's been like the old days, those phones lighting up. we got a lot of details to share but also a lot of questions. we can tell you for the last few months softbank has been in negotiations to buy a majority position in telecom provider sprint. now originally those talks also included my sources tell me t-mobile. in fact, would have involved a deal in which t-mobile and sprint got together, something that has been discussed many times in the past. and then softbank came in with a very large equity check buying down significantly what was deutsche telecom's stake in the overall and perhaps buying even more from the sprint shoulder. that deal didn't happen. as we all know, in fact t-mobile has moved on, has a deal to acquire pcs. by the way, while there's been a great deal of speculation that sprint might try an jump that deal, i think we can put that aside for the moment because that's not likely to happen. pcs shares are down. the
. >>> we begin with breaking news on sprint and softbank. david faber's been working this all morning. >> yeah. it's been like the old days, those phones lighting up. we got a lot of details to share but also a lot of questions. we can tell you for the last few months softbank has been in negotiations to buy a majority position in telecom provider sprint. now originally those talks also included my sources tell me t-mobile. in fact, would have involved a deal in which t-mobile...
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three cheers if the softbank investment is the real deal. stay with cramer. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners. hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that this is important. well, both are important. let's be clear. they are but this is important too. [ man ] the receivables. [ male announcer ] michelin knows it's better for xerox to help manage their finance processing. so they can focus on keeping the world moving. with xerox, you're ready for real business. >>> seconds away
three cheers if the softbank investment is the real deal. stay with cramer. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had...
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but sprint doesn't control it and that's what softbank wants because its spectrum is what so softbank uses in japan. sure to be more negotiations. >> joining us is ed rogers. i don't know, is it audacious? it's certainly complicated. how do you think it will pan out? >> this is a fascinating deal. i think it's fascinating for two reasons. first of all, is this a statement about investment opportunities in the wireless market in the united states and taking on the big two, if you will, or is this more of a statement about how much money there is sitting in japan trying to find a home someplace. you know, why is softbank doing this deal, who will finance a $13 billion deal. that's as interesting as the deal itself to be honest with you. >> giles is nodding his head. but you're suggesting there is so much cash sitting around, eventually it is finally coming on out. investors have got fed up with earning nothing. >> absolutely. absolutely. somebody will finance this deal. softbank doesn't have the money in the bank. so, again, it's a $13 billion deal. this is an enormous deal. and i think
but sprint doesn't control it and that's what softbank wants because its spectrum is what so softbank uses in japan. sure to be more negotiations. >> joining us is ed rogers. i don't know, is it audacious? it's certainly complicated. how do you think it will pan out? >> this is a fascinating deal. i think it's fascinating for two reasons. first of all, is this a statement about investment opportunities in the wireless market in the united states and taking on the big two, if you...
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three cheers if the softbank investment is the real deal. stay with cramer. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so moving is easier. celebrex can be taken with or without food. and it's not a narcotic. you and your doctor should balance the benefits with the risks. all prescription nsaids, like celebrex, ibuprofen, naproxen, and meloxicam have the same cardiovascular
three cheers if the softbank investment is the real deal. stay with cramer. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. [ male announcer ] it's simple physics... a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying...
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three cheers if the softbank investment is the real deal. stay with cramer. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. but lately she's been coming in with less gray than usual. what's she up to? [ female announcer ] root touch-up by nice'n easy has the most shade choices, designed to match even salon color in just 10 minutes. with root touch-up, all they see is you.
three cheers if the softbank investment is the real deal. stay with cramer. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. but lately she's been coming in with less gray than usual. what's she up...
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however, i was reading today softbank needs a $23 billion loan, maybe you can give it to him, maybe pete can give it to him so the deal is not done yet. >> weiss, you're hanging the circles where 23 billion is a drop in the bucket. i know. >> it's chump change. >> you tell us which circles you roll in. >> it's chump change. i admit weekend tips but still a lot of money for sprint with their balance sheet. i'm getting more cautious now on verizon and telephone. i haven't sold yet. i think they'll bounce into earnings and then i'll revisit. >> workday blasts out of the gate with its trading debut. the web-based company popping more than 70%. josh brown would you be a buyer on this 70% pop? >> if you want to be in it and i probably do at some point you have to buy some today, just in case, but i would not take a full position here, because it's a huge premium. i will say -- >> why do you have to buy some today at all? i don't understand the logic? >> if you really want to be in this stock you can't take the chance that they're going to let you back in where it became public. it's a fabulous
however, i was reading today softbank needs a $23 billion loan, maybe you can give it to him, maybe pete can give it to him so the deal is not done yet. >> weiss, you're hanging the circles where 23 billion is a drop in the bucket. i know. >> it's chump change. >> you tell us which circles you roll in. >> it's chump change. i admit weekend tips but still a lot of money for sprint with their balance sheet. i'm getting more cautious now on verizon and telephone. i haven't...
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japanese bank, softbank, mobile carriers, softbank would be in advance talks to buy sprint and decided and we're seeing softbank buy majority stake in prince. sprint confirmed they're in talks. back to you. ashley: thank you, nicole. tracy: nicole, we'll ask you who the hottest bond girl is when we come back to you. i will ask you too, hottest bond girl. ashley: all right. tracy: cyber attacks on u.s. financial sector showing no signs of stopping. regions financial confirms it is the latest victim of a cyberattack. adam shapiro has been following the story around the clock. adam, what do you got. >> first you should remember the group responsible for these attacks carry them out only roughly eight hours this would have started roughly 10:00 a.m. new york time. so roughly four hours to go. here is what reasons on is telling us. we're experiencing internet service disruption that is intermittently impacting our customers ability to access our website or use our online banking service. we are working quickly to resolve this issue and regret any inconvenience customers may be experiencing.
japanese bank, softbank, mobile carriers, softbank would be in advance talks to buy sprint and decided and we're seeing softbank buy majority stake in prince. sprint confirmed they're in talks. back to you. ashley: thank you, nicole. tracy: nicole, we'll ask you who the hottest bond girl is when we come back to you. i will ask you too, hottest bond girl. ashley: all right. tracy: cyber attacks on u.s. financial sector showing no signs of stopping. regions financial confirms it is the latest...
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check out squares of sprint nextel, japan softbank talking about a two-thirds stake of sprint. nhk reported the original story and "the journal" says those talks are "advanced." it would be the largest foreign stake purchased by a japanese company on record and the stock is up 12% in the premarket. also a busy day for ipos, five are set for today, realogy holdings, intercept and kythera and shutterstock priced its offering above its expected range and garrison capital is expected to go public but not yet priced. >> it's a one shot on you, becky. >> i thought you had something you wanted to say. >> no, got nothing. >>> the street eagerly looking ahead to jpmorgan and wells fargo, those companies out with earnings on friday and joining us on set with a preview is betsy graseck, morgan stanley's large cap analyst. what are you looking for? >> looking to understand how good the fixed income has been, how good housing has been and all the various ways it's impacting them, and then on the other side of the equation is nim, what's the forward look there. i this i it will be fine this
check out squares of sprint nextel, japan softbank talking about a two-thirds stake of sprint. nhk reported the original story and "the journal" says those talks are "advanced." it would be the largest foreign stake purchased by a japanese company on record and the stock is up 12% in the premarket. also a busy day for ipos, five are set for today, realogy holdings, intercept and kythera and shutterstock priced its offering above its expected range and garrison capital is...
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something that softbank wants. so you could see a two-tier or two-step process in which softbank buys 19.9% of sprint primary shares and sprint goes out, uses that money to bring in what it doesn't already own of cle clearwire. and then you see the final tender offer under which we get the entire thing. we also have pcs, and i'll get to -- yesterday moved sharply lower and then was up for some reason on these strange rumors that softbank was interested in pcs. i can tell you at this point, there is no interest in pcs in terms of anything happening now. down the road is it possible that a softbank/sprint combination would seek to acquire a mobile combination, yes, it's possible if the antitrust regulators would allow it to occur. but nothing going on there as of now. it does not look at all like sprint has any interest in trying to jump that current deal. and don't forget, t-mobile was a part of the sprint/softbank talks when they first occurred this summer. >> surely there has to be someone else who wants it. the c
something that softbank wants. so you could see a two-tier or two-step process in which softbank buys 19.9% of sprint primary shares and sprint goes out, uses that money to bring in what it doesn't already own of cle clearwire. and then you see the final tender offer under which we get the entire thing. we also have pcs, and i'll get to -- yesterday moved sharply lower and then was up for some reason on these strange rumors that softbank was interested in pcs. i can tell you at this point,...
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softbank has been looking how you to break in to the u.s. market for months. and defense secretary leon panetta says the u.s. military could act preemptively if it detects an imminent threat of cyber attack. he urged stronger action to bolster america's defenses against such plots. officials say this was the first major policy speech on cyber security by any defense secretary. and we've been waiting. the nobel peace prize was awarded today to you, the -- no, that was "time" magazine. >> total cop out. >> a cheap mirror on the cover. this time it went to the european union. the entire union. >> who gets the money? >> i don't know. they'll use to pay off some of the unlg debts that they have. the committee citing the eu's historic role in uniting the continent saying the award was meant as a morale boost for the bloc as it struggles to resolve its debt crisis. i have talked about the peace prize being both political and sort of having jumped the shark years ago. arafat and -- >> there were three of them. >> the president didn't especially want it. he said, pleas
softbank has been looking how you to break in to the u.s. market for months. and defense secretary leon panetta says the u.s. military could act preemptively if it detects an imminent threat of cyber attack. he urged stronger action to bolster america's defenses against such plots. officials say this was the first major policy speech on cyber security by any defense secretary. and we've been waiting. the nobel peace prize was awarded today to you, the -- no, that was "time" magazine....